Thank you to John Danesi, a board member of the Kentucky Corn Growers Association (KYCGA), for participating in the selection event for the winners of the Radicle Corn Value Chain Challenge. In this photo, Danesi stands alongside the four finalists.
SAN DIEGO, CA, UNITED STATES. (Oct. 28, 2024) – Radicle Growth announced the winners of the Radicle Corn Value Chain Challenge, sponsored by U.S. Corn Farmers. The Kentucky Corn Promotion Council (KYCPC), other state corn checkoffs, and the National Corn Growers Association are funding partners in this effort. The event, held on Oct. 22 in San Francisco, showcased innovative ideas and exceptional entrepreneurial spirit from a competitive global pool of applicants.
The challenge set out to invest a minimum of $1.5 million in startup and growth companies worldwide whose innovative technologies and business models create new uses for corn and long-term sustainable demand for corn production. These companies are expected to develop new uses for corn that result in replacements for fossil fuel-derived materials with plant-derived materials such as sustainable aviation fuels (SAF), drop-in chemicals and plastics, compostable materials, and as-yet unidentified products and product categories that could be new areas for corn-derived products to be used.
Winning first place, and taking home a $1 million investment prize, is ‘me energy GmbH’. ‘me energy’ has developed unique technology enabling Rapid Chargers that generate climate-friendly electricity from low-cost ethanol. me energy’s portable, rapid chargers, powered by renewable energy such as corn bioethanol, can also create a new use for corn. The stations do not require a connection to the power grid because they generate their own electricity from sustainable bioethanol.
In second place, winning a $500,000 investment prize, is Låkril Technologies. Låkril’s bifunctional catalyst enables the efficient conversion of corn ethanol into bio-based acrylics, offering a sustainable alternative to traditional petrochemical methods. This innovation leverages renewable corn resources to produce acrylics, reducing carbon emissions and aligning with the growing demand for eco-friendly chemical production solutions.
A couple of years ago, KYCPC recognized Låkril’s process as a viable opportunity for new uses of corn, which could potentially create new markets. This assessment ultimately led to an investment in the startup. Låkril’s innovation has the potential to benefit corn producers and highlights the organization’s commitment to fostering new markets.
KYCGA board member John Danesi attended the event and stated, “I found it interesting that there were 132 original applicants all working on ideas to use corn products, which is 32% higher than Radicle Growth’s target. Of the applicants, 76% identified new markets for corn that have never been explored before.”
KYCPC chairman Ray Allan Mackey stated, “Investments by companies such as ‘me energy GmbH’ and ‘Låkril Technologies’ in new ways to utilize corn are crucial for the growth of the industry. They are creating innovative solutions that leverage corn as a feedstock, which boosts demand. American farmers are becoming more productive by growing more corn on fewer acres, a direct result of improved sustainability practices. Emerging markets, such as those introduced by Radicle Growth, offer farmers the promise of new uses and a thriving market for their crops.”
“We are proud to recognize the groundbreaking innovations from our finalists in the Radicle Corn Value Chain Challenge. These projects not only highlight the versatility of corn but also demonstrate the potential for transforming our economy towards sustainability. By investing in these visionary companies, we are paving the way for a greener future where agriculture and innovation go hand in hand,” shared Kirk Haney, Managing Partner at Radicle Growth.
For more information about future Radicle Challenges please visit or contact Natale Clark, Director of Operations at nclark@radicle.vc. And to learn more about Kentucky Corn’s commitment to finding new uses of corn, please visit our website at www.kycorn.org, or give any of our farmer leaders or staff a call.
About KYCGA
The Kentucky Corn Growers Association (KYCGA) is a dues-based, grassroots organization founded in 1982 to represent the interests of corn farmers. As the advocacy arm of the corn industry, KYCGA works to ensure a pro-corn business and policy environment. For more information, visit www.kycorn.org.
Media Contact:
Kate Pride, Communications Director
kate@kycorn.org
About Radicle Growth
Radicle Growth selects innovative, early-stage companies for investment, ensuring that disruptive AgTech & Food Tech companies reach their full potential. In addition to providing seed-stage capital, Radicle Growth provides a fertile environment for visionaries in the ag and food space to flourish. Their proprietary platform is one of a kind in the ag and food industry, filling a huge void in the market by identifying the most innovative technologies and accelerating them with a range of value-creation initiatives.
Media & Investor Relations Contact:
Natale Clark, Director of Operations
nclark@radicle.vc